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Barclays Capital has become the fourth prime bank to join Electronic Broking Services' new system, which offers the chance of trading on global foreign exchange markets to previously restricted players.

Jack Jeffery, chief executive of Electronic Broking Services, said: "With an established presence in the UK and significant global profile, Barclays Capital will be able to extend access to the largest foreign exchange liquidity pool to banks in established and emerging financial markets."

Electronic Broking Services said expanding the number of counterparties trading in foreign exchange was critical to the development of the market as greater depth increased liquidity.

Electronic Broking Services launched EBS Prime in May. It was designed to allow smaller banks - previously unable to trade foreign exchange because of limited counterparty credit - a way into the market by providing access to the bigger banks' unused credit lines.